AREC reports record 2022 revenue $39.5M, Q4 net income $9.5M, adjusted EBITDA $11.4M

American Resources Corp

Full year 2022 revenue $39.5M, up >400% from $7.76M in 2021.
Q4 2022 net income $9.5M ($0.14/share) vs net loss $10.4M ($0.17/share) in Q4 2021.
Full year adjusted EBITDA $6.5M vs loss of $22.8M in 2021; Q4 adjusted EBITDA $11.4M vs loss of $6.8M.
ReElement Technologies produced >99.5% pure rare earth elements and 99.9% pure lithium at commercial scale from recycled sources.
Company repurchased 7.5% interest in ReElement, filed Form 10 for spin-off, and converted last convertible debt reducing debt by over $9M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

American Resources Corp reported financial results for the fourth quarter and full year ended December 31, 2022.

Period: the fourth quarter and full year ended December 31, 2022
Result: reported results

Exact text from the filing

On March 30, 2023, American Resources Corporation (or the “Company”) issued a press release to announce the reporting of the Company’s financial and operating results for the fourth quarter and full year 2022 (the “Earnings Release”), and to provide a business outlook.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

American Resources Corp filing history →

Source: SEC EDGAR

accession 0001654954-23-003921

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